Synlait Milk founder John Penno to step down after 12 years at the helm

Synlait Founder and Chief Executive Officer, John Penno has announced he will be stepping down from the position within the next 12 months. Mr Penno would continue in a governance role as a director of the board. Synlait Chairman, Graeme Milne said Mr Penno had been an exceptional leader and had left the company in a very healthy shape with a strong balance sheet and clear future growth plan. Mr Milne said the board would search internationally for a new chief executive officer, and Mr Penno had committed to continuing in the role until a successor was found and in place.